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ShareA real estate market that’s burgeoning with houses for sale and teeming with buyers is every real estate agent’s dream. It’s the type of market that attracts new agents to the field and keeps veteran agents engaged.
However, in a perpetually fluctuating market, these ideals are fleeting. Real estate agents, both seasoned and newcomers, need skill and determination to survive and thrive in this ultra-competitive field.
This article will provide some effective tips on how real estate agents and brokers can achieve a competitive edge over their rivals.
Preparing in Advance
A fair amount of engagement, research, and analysis are needed to understand the real estate market and its many nuances. To stay competitive, real estate agents and brokers constantly need to have their finger on the pulse of the market.
This means knowing about all available properties, having clear insights into the specifications of those properties, and the current and projected state of the market. Real estate agents who keep up-to-date with the latest market trends and going-ons will know immediately if a listing will fit the criteria of a buyer.
Knowing the Process of Multiple Offers
In a market with high buyer activity, properties typically attract multiple offers. In this type of environment, it’s critical for the agent to understand local market trends and the bidding process. When equipped with accurate information on current in-contract sales and comparable sales, a real estate agent can recommend to their clients when they should bid aggressively and when they should hold back.
It can be tough for agents who start out in a competitive market—particularly one that’s saturated with experienced professionals. However, if they prioritize their clients’ needs and keep a keen eye on market activities, they’ll inevitably find success.
Branching Out
In a market that’s dominated by big players, it can be difficult for new agents to thrive in the pre-existing home sales market. For these professionals, our best advice is to branch out. The things they can focus on besides pre-existing sales include property management and new construction. The latter is a particularly good prospect right now as the market for new construction homes is projected to grow.
Moreover, with new home inventory search tools such as Builders Update, finding formation on new home communities and to-be-built projects is extremely easy for real estate agents and brokers.
If you want to learn more about Builders Update and the services they offer, get in touch with them.
